Notice Inviting Expression of Interest EOI Notice SURAT SITILINK LIMITED(SSL) Room No.95, SMC Main Office, Muglisara, Surat - 395 001. Notice Inviting EOI for "Hiring Service of Statutory Auditors, Internal Auditors and Company Secretary for the Period of 01.11.2017 to 31.03.2018 for Surat Sitilink Ltd. " [SSL-EOI-01/2017-18] This EOI Document is being published by the Surat Sitilink Ltd. for Hiring Service of Statutory Auditors, Internal Auditors and Company Secretary for the Period of 01.11.2017 to 31.03.2018. Bidders are advised to study this EOI Documents carefully before submitting their proposals in response to the EOI Notice. Submission of a proposal in response to this notice shall be deemed to have been done after careful study and examination of this document with full understanding of its terms, conditions and implications. This EOI Document is not transferable. Bidders must quote their bid for each service in separately also paid EOI fees for each type of services. Sr. No. Category of Services 1 Statutory Auditors 2 Internal Auditors 3 Company Secretary EOI Fee (Nonrefundable) Online Queries Last date(deadline) for EOI Submission INR 1,000 (Including GST) by Demand Draft or Banker's Cheque in favour of M/s Surat Sitilink Ltd. Bidders shall have to post queries by email to suratsitilink@gmail.com on or before 26/10/2017, 16:00 hrs. Complete EOI in sealed envelope with relevant details may be submitted strictly through Speed Post or RPAD only so as to reach by 03/11/2017 up to 18:00 hrs at following address: Chief Accountant Shri, Surat Municipal Corporation, Muglisara Surat - 395003, Gujarat. https://www.suratmunicipal.gov.in/ Website to download EOI The right to accept/reject any or all bid(s) received is reserved without assigning any reason thereof. Dy. Commissioner (D.) & Managing Director Surat Sitilink Ltd. 1 P a g e
Contents 1. Introduction... 3 2. Hiring Service for Internal Auditors... 4 3. Table of Content... 5 4. Technical Eligibility for Internal Auditors... 6 5. Scope of Works for Internal Auditors... 8 6. Financial Bid for Internal Auditors... 11 7. Hiring Service for Statutory Auditors... 12 8. Table of Content... 13 9. Technical Eligibility for Statutory Auditors... 14 10. Scope of Works for Statutory Auditors... 16 11. Financial Bid for Statutory Auditors... 17 12. Hiring Service for Company Secretary... 18 13. Table of Content... 19 14. Technical Eligibility for Company Secretary... 20 15. Scope of Works for Company Secretary... 21 16. Financial Bid for Company Secretary... 22 2 P a g e
1. Introduction and Background About Surat Municipal Corporation The Surat Municipal Corporation (SMC) has responded to the challengers of fastest population growth and high speed economic development by adopting the best urban management practices. The administration of SMC with the help of the people and elected members of the city has transformed Surat to one of the cleanest cities of India. SMC has taken all necessary steps to make the city a better place to live all amenities. SMC has taken up many path breaking initiatives and these efforts have been acknowledged at national and international level. About Surat Sitilink Ltd. (SSL) Surat Municipal Corporation has formed a separate Special Purpose Vehicle (SPV) as Surat Sitilink Ltd. (SSL) for the implementation of projects for public transportation for the city of Surat and their citizens. This SPV shall carry end to end responsibility for bus operations. 3 P a g e
1. Expression of Interest For "Hiring Service of CA Firm as Internal Auditors for the Period of 01.11.2017 to 31.03.2018 for Surat Sitilink Limited." EOI Notification No.:SSL-EOI-01/2017-18 4 P a g e
Issued by SURAT SITILINK LTD.(SSL) Table of Contents 1. Introduction and Background 1.1 About Surat Municipal Corporation 1.2 About Surat Sitilink Ltd(SSL) Cover 1 2. Technical Eligibility. (Cover 1) 3. Terms of References for Internal Audit of Surat Sitilink Ltd. (Cover 1) Cover 2 4. Financial BID. (Cover 2) 5 P a g e
INVITATION OF EXPRESSION OF INTEREST COVER 1 2. Technical Eligibility Criteria 1. The applications will be considered from Chartered Accountancy partnership firms or LLPs ( the Firm ) with more than 10years of experience. 2. The experience should include experience in undertaking pre-audit/ internal audit/ statutory audit of Public Sector Company / Govt. Company / local authority / externally Aided projects/ Social Sector Projects (Excluding the audit of Charitable Institutions and NGOs). Compliance (strike off which is not necessary) (If yes, evidences supporting appointment in Envelope 1) 3. The firm should not be banned or blacklisted or temporarily forbidden from applying for tenders for any type of audit by PSU/ local authority / Govt. Company. 4. The Turnover of the Firm for last 5 years should be exceeding 50 Lacs in each year. 5. The partners should include a minimum of 2 FCA exclusively associated with the firm as per firm s standing as on 1 st January 2017. 6. The Chartered Accountant firm has to ensure that qualified CA and Technical Staff are deputed for audit work. Whether Firm or associate is banned or blacklisted or temporarily forbidden from applying for tenders for any type of audit by PSU/ local authority / Govt. Company? (undertaking in this regard to be provided in Envelope 1) (If yes, please provide audit report and Taxreturn filed of last 5 years in Envelope 1) (If yes, please provide evidence to support in Envelope 1) Agreed / not agreed (undertaking in this regard to be provided in Envelope 1) 6 P a g e
We state that the above information is true based on our records, as well as Envelope 1 that gives details of evidence to support. For Chartered Accountants Partner (Name) Membership no. 7 P a g e
3. Terms of References for Internal Audit of Surat Sitilink Ltd. The proposed scope of Internal Audit to be carried out for the 01.11.2017 to 31.03.2018 while the reporting will be based on 3-month periods December, March, June and September. It is a comprehensive scope covering verification of all the projects carried out by the Surat Sitilink Ltd- Special Purpose Vehicle (SPV) of Surat Municipal Corporation. It aims to give broad contours within which the audit would be carried out; however, it may evolve in the other areas based on the necessity, mandate and compulsion. The Scope is divided into following broad segments: (A) System & Procedural Audit a) Accounts and Finance Fund Management including Drawing Segregation route between A&OE, Grant Funds received from Surat Municipal Corporation and other funds out of Fixed System and process for JV s and controls related thereto. Compliance with various Accounting Standards. MIS - To ensure that the Information System is seamlessly integrated and has minimal manual intervention and there are adequate controls on financial and operational reporting. b) Statutory compliances Verification of Investments & Investment Register. Contingent Liabilities Verification of Secretarial Compliances - To check all statutory records registers including Minute Books and to see that accounting effects of all 8 P a g e
the decisions taken at Board / Committee Meeting / General Meeting / Audit Committee in the Books of Accounts. Review on the Company s dealing where related parties are interested. Fixed Assets Verification with Fixed Assets Register. (B) Pre-audit of transactions (1) Transaction & Compliance Audit Pre-audit of transactions before they are vouched for in the accounts. Stamp & Signature on each of the transactions as a token of pre-audit for processing the documents. Verification of Cash and Bank payments, FDR s, Security Deposits and receipt system Visit as frequently as necessary so that no transaction remains unprocessed as a result of pre-audit for more than 24 working hrs. Compliance related to Tax Deduction at Source (TDS), Tax Collection at Source (TCS) and other laws. Compliance related to Goods and Service Tax (GST) Act. (2) Payroll and HR Related Documents: Verification of salaries and statutory deductions related documents e.g. Provident Fund, ESI, Professional Tax, Labour Laws etc. Contractual Arrangements verification with individuals and other entities. (3) Budget: Base of the budget to be verified to ensure that sanctity of the budget is as per the Surat Sitilink Ltd. Guidelines and Statements. 9 P a g e
All the transactions entered into form part of the approved projects and are funded from allocations or grants received for the purpose. Reviews of the price escalations and diesel hike rate differences if any to be paid or recovered from the contractors as per the tender terms. (4) Other Areas / Responsibilities: Providing consultancy on various matters related to Compliances Reporting to Audit Committee major observations and strengthening whistle blowing mechanism. Liaising with statutory auditors. (5) Any other Areas suggested by the Audit Committee We agree to the above scope of work and comprehensive financial bid in form of proposed Fees stated in Envelope 2. For Chartered Accountants Partner (Name) Membership no. 10 P a g e
COVER 2 2 4. FINANCIAL BID Scope of Work Total Amount (in INR) System& Procedural Audit a) Accounts and Finance b) Statutory compliance Pre-audit of transactions a) Transaction & Compliance Audit (Comprehensive quote for Scope of work agreed upon shall be stated, which shall be inclusive of out of pocket / incidental expenses. GST should be mentioned separately. ) b) Payroll and HR Related Documents: c) Budget: d) Other Areas / Responsibilities: e) Any other Areas suggested by the Audit Committee Professional Fees for agreed scope of work Applicable GST Amt in INR Rupees in Words Amt in INR Rupees in Words Total Amt in INR Rupees in Words 11 P a g e
2. Expression of Interest For " Hiring Service of CA Firm as Statutory Auditors for the Financial Year 2017-18 for Surat Sitilink Limited." EOI Notification No.:SSL-EOI-01/2017-18 12 P a g e
Issued by SURAT SITILINK LTD. (SSL) Table of Contents Cover 1 1. Technical Eligibility. (Cover 1) 2. Scope of Work. (Cover 1) Cover 2 3. Financial BID. (Cover 2) 13 P a g e
INVITATION OF EXPRESSION OF INTEREST COVER 1 1. Technical Eligibility Criteria 1. The applications will be considered from Chartered Accountancy partnership firms or LLPs ( the Firm ) having registered working (Head) office with more than 10 years of experience. 2. The experience should include experience in undertaking pre-audit/ internal audit/ statutory audit of Public Sector Company / Govt. Company / local authority / externally Aided projects/ Social Sector Projects (Excluding the audit of Charitable Institutions and NGOs). 3. The Firm should not be a Branch or collaborated firm, while at least 2 partners should be continuously partners of the Firm since last 10 years. 4. The Audit firm shall not sub-contract the Audit assignment. 5. The Firm or any of the partners of the firm should not have any disciplinary matters pending with ICAI/RBI/CBI or any form and they should not have suffered any disqualification. Compliance (strike off which is not necessary) (If yes, provide evidences supporting appointment in Cover 1) (If yes, evidence in this regard should be provided in Cover 1) Agreed / Not agreed (undertaking in this regard to be provided in Cover 1) Whether disciplinary action initiated? Whether any of the partners / firm is disqualified (undertaking in this regard to be provided in Cover 1) 6. The firm should not be banned or blacklisted or temporarily forbidden from applying for tenders for any type of audit by PSU/ local authority / Govt. Company. Whether Firm or associate is banned or blacklisted or temporarily forbidden from applying for tenders for any type of audit by PSU/ local authority / Govt. Company? (undertaking in this regard to be provided in Cover 1) 14 P a g e
Criteria 7. The Turnover of the Firm for last 5 years should be exceeding 1.5 Crore in each year, as also total taxable income above Rs. 1 Crore in each year as per the Income-tax return. Compliance (strike off which is not necessary) (If yes, please provide audit report and Taxreturn filed of last 5 years in Cover 1) 8. The partners should include a minimum of 2 FCA exclusively associated with the firm as per firm s standing as on 1 st January 2017. (If yes, please provide evidence to support in Cover 1) 9. The Chartered Accountant firm has to ensure that qualified CA and Technical Staff are deputed for audit work. Agreed / not agreed (undertaking in this regard to be provided in Cover 1) We state that the above information is true based on our records, as well as Cover 1 that gives details of evidence to support. For Chartered Accountants Partner (Name) Membership no. 15 P a g e
2. Scope of work 1. Statutory Audit under the Companies Act, 2013. 2. Tax Audit of the Company under section 44AB of the Income Tax Act, 1961 3. Compliance under IND-AS which have become applicable from 01.04.2017, and help in ensuring compliance to the company. 4. Assisting in drawing following statements annually for the company: a. Statement of financial position b. Statement of income and expenditure account c. Statement of changes in equity d. Statement of other comprehensive income e. Statement of Cash flow. 5. Consultation for the accounting system and internal controls. 6. GST Compliance a. Filing GST Forms and returns b. Consulting in GST matters from time to time c. Assistance in GST system mapping 7. The CA Firm have also certified Utility Certificate as and when required by government authorities, SMC or any other agencies. We agree to the above scope of work and comprehensive financial bid in form of proposed Fees stated in Cover 2. For Chartered Accountants Partner (Name) Membership no. 16 P a g e
COVER 2 3. FINANCIAL BID Scope of Work Total Amount (in INR) 1. Statutory Audit under the Companies Act, 2013. 2. Tax Audit of the Company under section 44AB of the Income Tax Act, 1961 3. Compliance under IND-AS which have become applicable from 01.04.2017, and help in ensuring compliance to the company. 4. Assisting in drawing following statements annually for the company: a. Statement of financial position b. Statement of income and expenditure account c. Statement of changes in equity d. Statement of other comprehensive income e. Statement of Cash flow. 5. Consultation for the accounting system and internal controls. 6. GST Compliance a. Filing GST Forms and returns b. Consulting in GST matters from time to time d. Assistance in GST system mapping 7. The CA Firm have also certify Utility Certificate as and when required by government authorities, SMC or any other agencies. (Comprehensive quote for Scope of work agreed upon shall be stated, which shall be inclusive of out of pocket / incidental expenses. GST should be mentioned separately. ) Professional Fees for agreed scope of work Applicable GST Total Amt in INR Rupees in Words Amt in INR Rupees in Words Amt in INR Rupees in Words 17 P a g e
3. Expression of Interest For "Hiring Service of CS Firm For Retainer ship for the Financial Year 2017-18 for Surat Sitilink Limited." EOI Notification No.:SSL-EOI-01/2017-18 18 P a g e
Issued by SURAT SITILINK LTD.(SSL) Table of Contents Cover 1 1. Technical Eligibility. (Cover 1) 2. Scope of Work. (Cover 1) Cover 2 3. Financial BID. (Cover 2) 19 P a g e
INVITATION OF EXPRESSION OF INTEREST COVER 1 1. Technical Eligibility The firm should have at least 3 years of work experience in this field in Surat. We state that the above information is true based on our records, as well as Cover 1 that gives details of evidence to support. For Company Secretary Partner (Name) Membership no. 20 P a g e
2. Scope of work: 1) To update Statutory records of the company like; a) Minutes Book; b) Register of Members; c) Register of Directors; d) Register of Director share holding; e) Register of contract f) Register of charges g) Register of Attendance of all statutory meetings. etc (excluding fixed assets register) h) Registration for director identification number, share transfer process, issuing digital signature to directors etc. 2) To prepare Notices for Meeting of Directors and Shareholder's of the company 3) Drafting Resolutions of all the meetings of the company. 4) To provide advisory services regarding Companies Act, 2013 Maintaining Statutory records like Minutes Book, Statutory Registers, Agenda papers, documentation related to resolution, filing of e-forms with Registrar of Companies, Annual Filing for the year 2017-18 of SSL. Co-ordination with SSL staff regarding draft approval of agenda, minutes and other documents if any. Ensure that SSL complies with Companies Act, 2013. We agree to the above scope of work and comprehensive financial bid in form of proposed Fees stated in Cover 2. For Company Secretary Partner (Name) Membership no. 21 P a g e
COVER 2 3. FINANCIAL BID Scope of Work Total Amount (in INR) 1. Conducting four Board meetings and one Annual General Meeting for the financial year 2017-18 for SSL. 2. Maintaining Statutory records like Minutes Book, Statutory Registers, Agenda papers, documentation related to resolution, filing of e-forms with Registrar of Companies, Annual Filing for the year 2017-18 of SSL. 3. Co-ordination with SSL staff regarding draft approval of agenda, minutes and other documents if any. 4. Ensure that SSL complies with Companies Act, 2013. (Comprehensive quote for Scope of work agreed upon shall be stated, which shall be inclusive of out of pocket / incidental expenses. GST should be mentioned separately. ) Professional Fees for agreed scope of work Applicable GST Amt in INR Rupees in Words Amt in INR Rupees in Words Total Amt in INR Rupees in Words 22 P a g e